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A proposed board meeting of the Sir Ratan Tata Trust (SRTT), which was supposed to take up the appointment of Neville Tata, son of Tata Trusts Chairman Noel Tata, as a trustee on Saturday is understood to have been cancelled due to lack of quorum. The cancellation of the meeting comes over two months after the failure of the first attempt to induct Neville Tata on the board of SRTT, which holds 23.6 per cent in Tata Sons, the promoter holding firm of the over USD 180 billion Tata Group. "All trustees could not attend, which is a requirement for trustee appointment," a person with direct knowledge of the development said. The meeting could be rescheduled in the next few days, the person added. However, others said the cancellation could be to take more time for discussion among the trustees to reach a consensus on the appointment. Query to Tata Trusts remained unanswered. The trustees of SRTT are Noel Tata, Venu Srinivasan, Vijay Singh Jimmy N Tata, Jehangir HC Jehangir and Darius
Aviation watchdog DGCA on Saturday imposed a Rs 22.20-crore penalty on IndiGo for last month's massive flight disruptions and issued stern warnings to airline chief Pieter Elbers as well as two other senior executives. Besides, the regulator directed the airline to furnish Rs 50 crore bank guarantee to ensure compliance with its directives and long-term systemic correction. IndiGo cancelled hundreds of flights early in December, leaving thousands of passengers stranded across the country, as the airline was not adequately prepared to implement the new flight duty norms for pilots. Following the large-scale disruptions in IndiGo operations, aviation watchdog Directorate General of Civil Aviation (DGCA) set up a four-member committee headed by Joint Director General Sanjay K Brahmane to carry out a comprehensive review and assessment of the circumstances that led to such disruptions. The panel submitted its report to the DGCA on December 27 last year. "We are not taking this situati
EPFO subscribers will be able to withdraw their employees' provident fund (EPF) directly to their bank accounts through UPI payment gateway by April this year, a top source has said. The labour ministry is working on a project where a certain proportion of the EPF will be frozen, and a large chunk will be available for withdrawal through their bank account using Unified Payment Interface (UPI), the source told PTI. He explained that the subscribers will be able to see the eligible EPF balance available for transferring into their seeded bank accounts. They will be allowed to use their linked UPI pin for completing the transaction to ensure a secure transfer of money into their bank accounts. Once the money is transferred into bank accounts, the members can use the money the way they want, like making payments electronically or withdrawing through bank ATMs using debit cards. The source stated that the Employees' Provident Fund Organisation (EPFO) is trying to resolve software glit
